Global internet media company Yahoo is scheduled to report its next set of earnings on Jan. 28.

YHOO stock continues to act well despite the recent news of the departure of a senior employee. The company’s CEO Marissa Mayer reportedly fired her COO Henrique de Castro after a various disputes, and the firm is now looking to bring two new directors on board.

Since my last take on YHOO stock on Dec. 11th, the shares have traded marginally higher, but without much allure to the trading community. As I discussed at the time, YHOO stock had a great run in 2013, doubling in value but needed to consolidate before it could increase the odds of another move higher.

Over the past month the stock has done just that, and with a little over one week to go until earnings, it looks like investors are waiting for the earnings announcement to pass before making any major decisions about YHOO stock.

Through the lens of the long-term chart, YHOO stock thus remains at the same spot it was in my last update, namely churning below the major resistance line that dates back to late 2005. Given the long-term standing of his resistance area, I am not expecting the resistance to break without a fight. I think more time is needed for the stock to coil up before it can break out, with the earnings date being a potential catalyst.

When I look at the daily chart of YHOO stock, I continue to see positive price action, although the momentum seems to be waning (see the stochastic oscillator on the below chart). Both from a trading and investment standpoint, I am now waiting for the earnings report, considering the stock’s large run-up last year and its standing on the long- and near-term charts.

On the daily chart, YHOO stock is now dancing on a support line, which previously acted as a resistance line of the up-trend and now makes the stock vulnerable. More often than not, a stock trading above a major trend-channel needs to consolidate before it can move higher again from a better base.

So if you’re looking at YHOO stock, wait for the earnings report. Then we’ll have a much better idea of where the stock is likely to move next.

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Learn more about the strategies Serge Berger uses to create profits in the market every day. Download his trading plan in the Essence of Swing Trading e-book by clicking here. As of this writing, he did not hold a position in any of the aforementioned securities.